Fate Therapeutics Inc (NASDAQ:FATE) Insider Sells $252,625.00 in Stock

Fate Therapeutics Inc (NASDAQ:FATE) insider Daniel D. Shoemaker sold 12,500 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $20.21, for a total value of $252,625.00. Following the completion of the transaction, the insider now directly owns 148,091 shares in the company, valued at $2,992,919.11. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Shares of Fate Therapeutics stock traded down $1.13 during trading on Friday, reaching $21.37. 584,671 shares of the stock traded hands, compared to its average volume of 776,412. The firm has a market cap of $1.39 billion, a P/E ratio of -17.96 and a beta of 1.65. The firm’s fifty day moving average price is $19.85. The company has a debt-to-equity ratio of 0.26, a current ratio of 6.40 and a quick ratio of 6.40. Fate Therapeutics Inc has a 52-week low of $8.64 and a 52-week high of $22.82.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.30) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.07). The company had revenue of $2.63 million during the quarter, compared to analysts’ expectations of $2.01 million. Fate Therapeutics had a negative return on equity of 54.30% and a negative net margin of 1,138.12%. The company’s revenue was up 156.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.27) EPS. On average, sell-side analysts predict that Fate Therapeutics Inc will post -1.3 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. grew its position in Fate Therapeutics by 248.5% in the first quarter. Meeder Asset Management Inc. now owns 2,826 shares of the biopharmaceutical company’s stock worth $50,000 after acquiring an additional 2,015 shares in the last quarter. SG Americas Securities LLC purchased a new position in Fate Therapeutics in the first quarter worth about $169,000. Legal & General Group Plc boosted its position in shares of Fate Therapeutics by 48.6% during the fourth quarter. Legal & General Group Plc now owns 11,376 shares of the biopharmaceutical company’s stock valued at $146,000 after buying an additional 3,719 shares during the period. BNP Paribas Arbitrage SA purchased a new position in shares of Fate Therapeutics during the first quarter valued at approximately $221,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Fate Therapeutics by 9.9% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 12,624 shares of the biopharmaceutical company’s stock valued at $222,000 after buying an additional 1,139 shares during the period. Institutional investors own 93.28% of the company’s stock.

A number of equities analysts recently commented on the company. Mizuho assumed coverage on CytomX Therapeutics in a report on Wednesday, June 12th. They issued a “buy” rating and a $16.00 target price on the stock. Roth Capital decreased their target price on Diamondback Energy from $166.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Zacks Investment Research cut ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Svb Leerink began coverage on Fate Therapeutics in a report on Thursday, March 28th. They set an “outperform” rating and a $20.00 price target on the stock. Finally, CIBC raised Alaris Royalty to a “buy” rating in a report on Friday, July 12th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $22.77.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc operates as a biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorder. The firm programme cellular therapeutics for the treatment of life threatening diseases, hematologic malignancies, genetic disorders and diseases resulting from the dysregulation of the immune system.

Further Reading: Market Perform

Insider Buying and Selling by Quarter for Fate Therapeutics (NASDAQ:FATE)

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